Columbus McKinnon Co. (NASDAQ:CMCO) Sees Significant Increase in Short Interest

Columbus McKinnon Co. (NASDAQ:CMCO - Get Free Report) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 712,800 shares, an increase of 44.3% from the February 28th total of 494,000 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily volume of 550,900 shares, the short-interest ratio is presently 1.3 days.

Columbus McKinnon Price Performance

Columbus McKinnon stock traded down $2.39 during trading on Thursday, reaching $14.71. The company had a trading volume of 570,010 shares, compared to its average volume of 300,040. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The firm's 50-day simple moving average is $22.88 and its 200 day simple moving average is $31.38. The firm has a market capitalization of $420.90 million, a PE ratio of 44.58 and a beta of 1.31. Columbus McKinnon has a 1-year low of $14.69 and a 1-year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. As a group, equities research analysts anticipate that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Friday, May 2nd will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.90%. Columbus McKinnon's dividend payout ratio (DPR) is presently 84.85%.

Insiders Place Their Bets

In other news, Director Kathryn V. Bohl bought 2,819 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average cost of $17.99 per share, with a total value of $50,713.81. Following the transaction, the director now directly owns 14,812 shares in the company, valued at approximately $266,467.88. The trade was a 23.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Chad R. Abraham purchased 20,000 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $16.05 per share, with a total value of $321,000.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $321,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 27,819 shares of company stock valued at $473,064. Insiders own 1.98% of the company's stock.

Institutional Trading of Columbus McKinnon

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Columbus McKinnon by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,612,096 shares of the industrial products company's stock worth $60,034,000 after purchasing an additional 19,550 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Columbus McKinnon by 13.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company's stock valued at $57,646,000 after acquiring an additional 184,615 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company's stock valued at $36,135,000 after acquiring an additional 74,831 shares during the last quarter. Systematic Financial Management LP lifted its stake in Columbus McKinnon by 6.0% in the 4th quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company's stock worth $30,875,000 after purchasing an additional 46,806 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Columbus McKinnon by 117.8% during the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company's stock worth $27,455,000 after purchasing an additional 398,826 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CMCO shares. StockNews.com cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. DA Davidson restated a "neutral" rating and issued a $35.00 price target on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.